THE British are good at losing. So good that football defeats in penalty shoot-outs are considered inevitable, and a grassy slope at Wimbledon is named after a man who will never quite be good enough to be a tennis champion.

But all that changed yesterday. Britain is a winner - the winner of the greatest prize in sport.

The fact that London is to stage the 2012 Olympics is wonderful news. The economic benefits will be felt throughout the English regions and millions of children will be inspired to participate in sport.

Enormous credit is due to Sebastian Coe, who transformed the London bid from almost certain failure to a genuine cause for national celebration.

And Tony Blair - like him or loathe him - also deserves a large share of the praise for becoming the first post-war British Prime Minister to deliver the Olympic Games.

A couple of months ago, Mr Blair's star was seriously tarnished in the wake of the war in Iraq and a slashed majority in the General Election.

But how the MP for Sedgefield has bounced back: Michael Howard eased the pressure by creating fresh Tory turmoil with his post-election resignation announcement; the French saved Mr Blair from humiliation by rejecting the EU constitution; he gained renewed credibility through his role in the Live8 initiative; and now he's won the Olympics.

Mr Blair has, in many ways, been a lucky Prime Minister. His three terms in office owe as much to a lack of serious opposition as to his achievements.

But suddenly, his legacy is looking a lot more positive. Britain is a winner and so is Tony Blair.